Due to the continuous increase in the prices of petrol and diesel, the government is under great pressure to cut their prices. To get relief from their increased prices, there is a demand to bring them under the purview of GST. Recently, the Prime Minister and then the Chief Economic Advisor Krishnamurthy Subramaniam also advised to bring it under the purview of GST. Before this, Petroleum Minister Dharmendra Pradhan has also suggested this. However, Finance Minister Nirmala Sitharaman has described it as religious. Now SBI economist Soumikanti Ghosh has said that after being brought under the ambit of GST, the price of petrol and diesel can come to Rs. 68.
Petrol and diesel fall in GST, 0.4% loss to GDP
Saumyakanti Ghosh has said in his assessment that petrol and diesel and the state governments will only incur a revenue loss of one lakh crore rupees which will be 0.4 percent of GDP. This assessment has been done based on the price of crude oil in the international market at $ 60 per barrel and a dollar-rupee exchange rate of 73 rupees per dollar. Both the central and state governments impose their tax on petrol and diesel. States apply VAT on petrol and diesel as per their requirement. The center imposes excise duty. With this, the center's cess is put on it. In some parts of the country, the price of petrol has reached 100 rupees a liter.
Saudi Arabia turned down India's request
Meanwhile, OPEC has ignored India's plea to lift applicable controls on crude oil production. At the same time, there has been an increase in the price of crude oil in the international market. Saudi Arabia has told India that it can use the crude oil it bought at the time when the price of crude oil went down significantly last year. Brent crude oil, which is the most used crude oil, rose nearly one percent to $ 67.44 a barrel on Friday.
Petroleum Minister Dharmendra Pradhan appealed to OPEC countries to reduce the restrictions imposed on production to bring stability in the price of crude oil. He believed that due to the rising crude oil prices in the international market, both the improvement in the economic sector and the demand are having a bad effect.
After the film 'Salar Part One Ceasefire', Bahubali actor Prabhas is in the news for his upcoming
President Draupadi Murmu has approved the new flag of the Indian Navy and the new design of the I
Delhi High Court has issued notice to the Central Government on a petition filed to implement Uni
Russia frees American basketball star Brittney Griner, in return US frees arms dealer from prison
America's basketball star Brittany Griner has been released by Russia. In return, Russia's arms d
'India is not neutral, but for peace': What else did PM Modi say in his bilateral talks with Putin?
Russian President Vladimir Putin is on the second day of his visit to India today. President Puti
A new sub-variant of Corona XBB.1.5 has been found in America. This is said to be the fastest-spr
After the huge loss of life and property due to the landslide in Wayanad, Kerala, amid relief and
China: Why did the pace of development suddenly get a 'shock'?
China's economy grew by 4.9% in the July-September quarter compared to a year earlier. However, t
The 140th meeting of the International Olympic Committee will be held in Mumbai. During the 139th
Khalistani terrorists have made a strategy for dangerous plans in the Cricket World Cup. During t
